SOMPO HOLDINGS INC.
January 30, 2015
Sompo Japan Nipponkoa Holdings, Inc.
Restructuring of Canopius Group holding company
Sompo Japan Nipponkoa Holdings, Inc.(President: Kengo Sakurada, hereinafter"SOMPO HOLDINGS") has decided to streamline the structure of Canopius Group. This will involve the liquidation of Canopius Group Limited (the holding company of Canopius Group) and the establishment of Canopius Holdings Limited as the group holding company.
On May 1, 2014, SOMPO HOLDINGS acquired Canopius Group, a global specialty player with its primary base in the U.K. insurance market of Lloyd's, through Sompo Japan Nipponkoa Insurance Inc.（hereinafter"Sompo Japan Nipponkoa"), a wholly owned subsidiary of SOMPO HOLDINGS.
Canopius Group Limited is a wholly-owned subsidiary of Sompo Japan Nipponkoa and the holding company of Canopius Group. In this reorganization, the business operations of Canopius Group Limited will be transferred to Canopius Holdings Limited, a wholly owned intermediate holding company. In addition, it is the intention to transfer the Canopius Holdings Limited head office from Bermuda to Switzerland.
This change will simplify the corporate structure, as SOMPO HOLDINGS aims to enhance the competitiveness of its overseas operations.
１．Overview of Canopius Group Limited
（１）Name | Canopius Group Limited |
（２）Head Office | Ogier House, St Julians Avenue, St Peter Port, GY1 1WA, Guernsey |
（３）Representative | Michael Watson, Chairman and CEO, |
（４）Business Industry | Holding company |
（５）Capital | 190 million pounds (Approximately 35.6 billion yen) |
（６）Foundation | October 24, 2003 |
２．Overview of Canopius Holdings Limited
（１）Name | Canopius Holdings Limited |
（２）Head Office※ | Canon's Court, 22 Victoria Street, Hamilton, Bermuda, HM12 |
（３）Representative | Michael Watson, Director |
（４）Business Industry | Holding company |
（５）Capital | 24 million dollars（Approximately 2.9 billion yen） |
（６）Foundation | April 17, 2012 |
※It is intended to transfer the location of head office to Switzerland at the same time.
３．Expected timeline
The liquidation is expected to be completed within 2015 calendar year.
４．Impact on financial results of SOMPO HOLDINGS
The impact of the liquidation described above on the business forecasts of the Company for the fiscal year ending March 31, 2015 that were announced on November 19, 2014 is expected to be negligible.
Attachment
Current After proposed changes
SOMPO HOLDINGS
Sompo Japan Nipponkoa
SOMPO HOLDINGS
Sompo Japan Nipponkoa
Canopius Group Limited
（Guernsey）
The object of restructuring
Canopius Holdings Limited
（Switzerland）
Canopius
Holdings Limited
（Bermuda）
Canopius Holdings
UK Limited
Other Group
Companies
Canopius Holdings
UK Limited
Other Group
Companies
Other Group
Companies
Canopius
Managing Agent
Other Group
Companies
Canopius
Managing Agent
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